Business Glossary

Business Glossary

As a student at Ahuntsic College, I currently study in a pre-university in business. This program provides the basic knowledge in business required in order to go at the university. Consequently, the following glossary gives you really important keywords to help you to understand the texts or books related to business.

Administrator

A person who manages or has a talent for managing. 

Business

An organization or economic system where goods and services are exchanged for one another or for money.

Capital

Wealth in the form of money or assets, taken as a sign of the financial strength of an individual, organization, or nation, and assumed to be available for development or investment.

Company

A business organization that makes, buys, or sells goods or provides services in exchange for money.

Competitor

          A rival organization that is engaged in commercial or economic competition with                     others.

Consumer

A purchaser of a good or service in retail.

Cost

An amount that has to be paid or given up in order to get something.

Credit

An agreement based largely on trust under which goods, services or money is exchanged against a promise to pay later. 

Currency

A system of money in general use in a particular country.

Distribution

The movement of goods and services from the source through a distribution channel, right up to the final customer, consumer, or user, and the movement 

of payment in the opposite direction, right up to the original producer or supplier.

Export

          To send goods or services across national borders for the purpose of selling and                   realizing foreign exchange.

Firm

A business organization, such as a corporation, limited-liability company or partnership.

Import

To bring in commodities from a foreign country for use or sale.

Leadership

The position or function of a leader, a person who guides or directs a group.

Logistics

The planning, implementation, and coordination of the details of abusiness or other operation.

Management

The act or manner of managing; handling, direction, or control.

Profits

The monetary surplus left to a producer or employer after deductingwages, rent, cost of raw materials, etc.

Tax

A compulsory financial contribution imposed by a government. 

Trade

Commercial transaction involving the sale and purchase of a good or service.

Warranty

A written guarantee, issued to the purchaser of an article by its manufacturer, promising to repair or replace it if necessary within a specified period of time.